Congo’s Senate has adopted a measure awarding the startup title to technology and digital firms in the country according to Afrikan Heroes and confirmed from Congo by Techbuild.
The Brazzaville parliament’s regular session saw the passage of the law.
This bill was approved by the Congolese government five months before it was actually passed. Just after the second reading, the bill was adopted by the Congolese upper house.
The execution of this law is part of the national digitalization strategy known as “Vision Congo digital 2025.” The measure established a comprehensive program to encourage the development of the digital economy in this country.
According to Juste-Léon Ibombo, minister of communications, post, and the digital economy, the passage of this bill is overdue to encourage the formation of startups, he thus believes that it would provide their protection.
He stated that the government’s commitment under this law is to permit start-ups and young entrepreneurs to generate money and bring benefits to the country’s economy.
The Congo, a country in Central Africa, distinguishes out on a digital level. This nation has seen a growth in the quantity of fintech, e-commerce, e-health, and agritech start-ups since 2015.
The Congolese start-up ecosystem generated $1 million from investment funds and other venture capital firms in 2021, as recorded by Partech’s “2021 Africa tech venture capital” research.
This law was passed by the government in March, as was previously mentioned. Its partnership with local startups aims to give them access to financial and legal advantages, fostering their development. The bill needs the president’s final approval before it can be implemented properly.
Numerous flourishing startup ecosystems exist in Africa, and these ecosystems are sustaining the continent’s economy.
However, these startups require assistance even more than before, and one of the best ways to do this is through startup bills that fair and consistent frameworks and operational support.
African nations like Nigeria and the Democratic Republic of the Congo are implementing startup laws with caution to strengthen the startup environment.
Congo joins Nigeria, Tunisia, Kenya, Ethiopia, Senegal as the latest African country to have a startup bill approved.
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